Tuesday, 29 May 2012

Jumio Vs Facebook...Saverin compares initial growth of both.

“It’s
actually grown a lot faster than I’ve seen in Facebook at the
beginning.”This are the very words of Facebook Co-founder Eduardo Saverin speaking at
the CHINICT technology conference in BeijingOn May 25th, 2012.

The Facebook Inc. (FB) co-founder said mobile-payment company Jumio Inc., one of his start-up investments, is growing even faster than the social
network did at the beginning.Whether this is a snub at Zuckerberg, I don't know. But sha, Jumio is running at a great speed. The Mountain View, California-based company is on course for $100
million in annual sales and is “highly profitable.

Jumio..Transforming Online payments.

If there's one thing Mr Saverin's record can prove, it is that the Brazilian Born billionaire can see a blooming investment right from its onset. Little wonder Jumio is gradually becoming a force to record with when it comes to mobile payments. Mr Saverin used his life savings of $30,000 to
fund Mark Zuckerberg’s plan for the social network and has since
invested in startups including Anideo, a developer of mobile
applications, and ShopSavvy Inc., a price-comparison service. an interesting feature of Jumio, is that its software turns any web cam or handset into a
credit-card reader. This is sure a huge transformation in the mobile payment market.

With a net worth of about $2.8 billion, Mr Saverin is sure one of the youngest world billionaires.